Private sector Bandhan Bank on Friday reported a net loss of Rs crore for the alternate quarter ended September 30, 2021. In the matching quarter last time, the Kolkata-headquartered bank posted a net profit of Rs 920crore.CNBC-TV18 Poll had prognosticated a profit of Rs182.2 crore for the quarter under review. Total income of the bank in July-September 2021-22, still, rose 6 per cent to Rs crore, as against Rs crore in the time-ago period, Bandhan Bank said in a nonsupervisory form.
The bank’s vittles ( other than levies) rosemulti-fold to Rs crore in Q2 FY22 against Rs379.6 crore in the time-ago quarter.
Bank’s net interest income (NII) for the quarter grew by0.6 percent to Rs crore as against Rs crore in the matching quarter of the former time. Non-interest income grew by34.0 percent to Rs491.6 crore for the quarter ended September 30, 2021, against Rs366.8 crore in the matching quarter of the formeryear.The operating profit for the quarter dropped by3.9 percent to Rs crore against Rs crore in the matching quarter of the former time. Net interest periphery (annualised) for the quarter ended September 30, 2021, stood at7.6 percent against8.0 percent on September 30, 2020.
The total advances (on book off book TLTRO PTC) grew by6.6 percent to Rs crore as on September 30, 2021 against Rs crore as on September 30, 2020. Total deposits increased by23.9 percent to Rs crore as of September 30, 2021, as compared to Rs crore as on September 30, 2020.
The gross NPAs as of September 30, 2021, is at Rs crore (10.8 percent) against Rs crore (8.2 percent) as of June 30, 2021. Net NPAs as of September 30, 2021, stood at Rs crore (3.0 percent) against Rs crore (3.3 percent) as of June 30, 2021.
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. Chandra Shekhar Ghosh, managing director and CEO of Bandhan Bank said,”During the quarter we’ve seen a substantial recovery in collections as the alternate surge of covid subsided. We’ve honored the stress pool and proactively taken fresh needful vittles similar as to meet any contingency conditions and to look forward to do business on a clean slate. This has redounded in a loss for the quarter. Still, it’ll help us to concentrate on fresh business growth and to concentrate towards achieving
. our long term pretensions with renewed energy.”
The results came after the close of the request hours. Shares of Bandhan Bank ended at Rs291.50, down by Rs7.05, or2.36 percent on the BSE.